The Chinese philosopher Lao-tzu wrote over 2,500 years ago that “A journey of a thousand miles begins with a single step.” For entrepreneurs, private equity investors, companies expanding into new markets, and countless other businesses, that first step toward success is forming the entity.
While you can see ads on television and download apps on your smartphone offering to form a new company for $100 or less, what these promotions will not tell you is that forming the wrong type of entity, or forming your company in the wrong jurisdiction, can end up costing you dearly in terms of additional fees and taxes, restrictions on your company, its equityholders, its capital, and even its operations.
The experienced corporate attorneys at Fuerst Ittleman David & Joseph regularly counsel clients on the various forms of business entities that can be formed: corporations, LLCs, partnerships, trusts, and more.
We provide you with a comprehensive picture of the business, tax, liability, and control issues that may arise with each type. Moreover, we are highly knowledgeable about corporate forms as they are regulated in most of the major U.S. states for business formation: Delaware, Florida, Nevada, New York, California, Illinois, and even Wyoming, to name a few.
We can point out to you the important differences between LLC operating agreements under Florida law in contrast to New York law. We can explain to you how minority shareholder rights are different for Nevada corporations than for those formed in Minnesota. We can help you calculate the important differences in taxes and filing fees for Delaware corporations with no par value stock versus stock with a de minimis par value.
Should your business plans or wealth preservation strategies call for your company to form offshore, Fuerst Ittleman David & Joseph has also helped clients establish corporations throughout the Caribbean, Latin America, and Europe. Moreover, the formation of offshore companies will always be accompanied with sound tax and corporate advice on the intricate details inherent in offshore business ventures.
Let our cadre of knowledgeable corporate attorneys help you determine the optimal combination of entity type and jurisdiction to meet your all of your business needs.